Analysis of Prices for BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, SUI, TON on 1/10
Bitcoin has shown resilience as it bounces above $94,000, signaling that the bulls are still active and eager to buy on dips, with a potential retest of $100,000 on the horizon.
According to Blocktrends head of research, Cauê Oliveira, large players were seen buying Bitcoin just below $95,000, indicating strong interest in the market. Additionally, a Bitwise survey of 430 financial advisors revealed that 56% are more likely to invest in cryptocurrencies in 2025 following the results of the recent US presidential election, with 99% of current investors planning to maintain or increase their exposure this year.
This influx of new investors could be positive news for both Bitcoin and altcoins. Real Vision co-founder and CEO, Raoul Pal, shared that the crypto markets are entering a phase where overall growth is expected, followed by a period of consolidation.
For Bitcoin, the key resistance levels to watch out for are the moving averages. A break above could lead to further gains, with targets set at $102,725 and $108,353. On the downside, a break below $90,000 could signal a trend change, with potential support at $85,000.
Ether has formed a head-and-shoulders pattern, which could be completed with a break below the neckline. Bears currently have the edge, with potential downside targets at $2,850 if the pattern plays out.
XRP is trading in a symmetrical triangle pattern, with resistance at $2.73 and $2.91 if bulls take charge, and support at $1.62 in case of a downside break.
BNB is struggling to sustain lower levels, with resistance at $745 and $794 if bulls prevail. On the downside, support lies at $635.
Solana, despite rebounding off the uptrend line, faces resistance at $215, with support at $175 and $155 if the bears take control.
Dogecoin is consolidating between $0.30 and $0.40, with potential downside targets at $0.27 if selling pressure increases.
Cardano has found support at the uptrend line, with potential upside targets at $1.15 if buyers push the price above the 50-day SMA.
Avalanche is attempting to bounce off the support near $35, with resistance at $45 and support at $30.
Sui is finding support at the 20-day EMA, with sentiment remaining positive for further gains in the near term.
Overall, the crypto market is showing signs of resilience and potential for further growth, with key levels to watch out for in the coming days.
